To those who rent....

[lisaviolet]

I rented for the first time this year. I'm hoping it will be the last time. Love my points.

Just some advice. Second payment/final payment make sure it's not close to the 31 days.

I agreed to 45, thinking that would give loads of time, and it's not working out the way I thought it would. Might sound perplexing or intriguing to some but I don't want to post details here. Not fair to the renters. I just wanted to share my lesson and thoughts on final payment.

Just heed my advice DVCers. At least 60 days I'd say. Lesson learned.

 

[Dean]

I rented for the first time this year. I'm hoping it will be the last time. Love my points.

Just some advice. Second payment/final payment make sure it's not close to the 31 days.

I agreed to 45, thinking that would give loads of time, and it's not working out the way I thought it would. Might sound perplexing or intriguing to some but I don't want to post details here. Not fair to the renters. I just wanted to share my lesson and thoughts on final payment.

Just heed my advice DVCers. At least 60 days I'd say. Lesson learned.

I used to do 90 days but have moved to 120 days mostly to have consistent issues when I rent non DVC timeshares.

 

[lisareniff]

I only rented once and use 60 days. It worked well and gave lots of time to get the check cleared, deal with very slow mail , and be a good guy and let them miss the deadline by a couple days. I rented points that were still bankable making it only a win situation for me.

 

[lisaviolet]

See! Look who is smarter than me. Many DISers. Good advice. I'm a mere four days away from 31 and do not like the position from all sides. Not a good view

One has to smile....

 

[lisareniff]

Actually, I wasn't all that knowledgeable, I wanted to do 45 days like you did. It seemed resonable giving 15 days to deposit and clear the check. But the renter had a DVC friend make the first contact and check me out (smart renter!) and she actually suggested the 60 days. So I went with it.

Good Luck!

 

[tjkraz]

See! Look who is smarter than me. Many DISers. Good advice. I'm a mere four days away from 31 and do not like the position from all sides. Not a good view

One has to smile....

If they have already violated the agreement, make that fact very clear to the renters. Tell them to get payment in your hands within 3 days or you are cancelling the reservation. Period.

It's not fun to play the bad guy but in this case it's better than the alternative--getting penalized for being the good guy (gal.)

 

[bradisgoofy]

I had the final payment due sixty days after they received the original reservation confirmation. Worked out fine.

 

[JimMIA]

If they have already violated the agreement, make that fact very clear to the renters. Tell them to get payment in your hands within 3 days or you are cancelling the reservation. Period.

It's not fun to play the bad guy but in this case it's better than the alternative--getting penalized for being the good guy (gal.)

As usual, this is very sound advice from tjkraz. A DVC rental is a business transaction, not a party for friends. The renter may be the most honest, trustworthy person in the world, and their intentions may be fine...but they are not handling this in an acceptable manner.

I would insist that they pay by wire or similar. There is no reason why they can't get the money in your bank account today if they want to. You obviously don't have time to wait and see if their check clears.

If you let the transaction drift into the <31 day area, you have little leverage. The only situation I've heard of where a DVC owner got stuck was one where they kept hoping the payment for the rental would come through. It never did.

You're in a situation where it doesn't matter what has gone before -- you need to protect yourself.

 

[lisaviolet]

Jim MIA and tjkraz,

No worries. We are on the same page. This gal is protecting herself. I've made the "has to arrive in my hands by May 14" or I need to cancel statement. Very clear. Don't want to but have to.

My emotion is from I don't want to do that. Ie. it's such an awful feeling especially with kids involved. But irregardless I will. Because, yes, this is a business transaction. In the end, it looks like they will for sure meet the deadline.

This renting, I'm laughing, is better than therapy. You want to learn about your strengths and your boundaries well find yourself a less than smooth, for whatever reason, rental transaction and voila!!!

To everyone else out there. I'm sure most transactions are super smooth. I had a small, second one at the same time that was easy.

Once again, 60 days should be the minimum on your final payment. Just in case.

Thanks for your words. It helps.

Lisa

 

[kimberh]

I use 60 days. Do not let it go beyond this. I had one person drag me out and then found out they were doing this to someone else at the same time. Now I am firm on the deadlines! I email them ahead of the deadline, the check arrives before, in most cases.

 

[mikron]

I have rented since 2004 and get 100% within 10 days from sending the original reservation from Disney. I have had no problem renting points and could if I had them rent 100% more points. Its a trust thing, but I could get hurt with all the time requirements by DVC. I have a cancellation policy and keep $100.00 for my time if renter needs to cancel.



4

 

[abeyst]

Wow, you guys give way more time than I do. I hope this is my first and last time renting (it was 2 different transactions), but I required half down to book the reservation and the remaining half when they receive the confirmation paperwork (2-3 weeks). One renter was great - the other strung out that last payment an extra 3 weeks. Finally I had to give a deadline date to get me the payment or I was cancelling the reservation.

It is hard to give that firm deadline, but if you give the renter your terms up front and they agree to it, you shouldn't feel guilty about giving that 'drop dead' date.

 

[mark&sue]

Let me just get this right. You ask for a 50% deposit before or after you phone member services? and then you get the final 50% say 60 to 90 days before the due date of the vacation. Suppose they do not pay the other 50% and you are forced to cancel do you give the deposit back?? Does anyone use a written contract or is this not necessary?

Thanks for all your help


Susan

 

[Dean]

Let me just get this right. You ask for a 50% deposit before or after you phone member services? and then you get the final 50% say 60 to 90 days before the due date of the vacation. Suppose they do not pay the other 50% and you are forced to cancel do you give the deposit back?? Does anyone use a written contract or is this not necessary?

Thanks for all your help


Susan

I don't know anyone that gives a refund for non performance on the part of the rentee nor should they.